White House spokesman Jay Carney on Wednesday reiterated that it would not be "in the best interests of the United States to make immediate changes to our assistance programmes".

He added that the administration would take its time to consider the implications of removing Mr Morsi from power.

US military aid to Egypt is estimated to be $1.3bn (£860m) each year.

President Barack Obama has been careful not to use the word "coup" in relation to events in Egypt, the BBC's Katy Watson in Washington reports, as doing so would trigger the legal requirement to cut off aid.

'Strong condemnation'

On Wednesday, arrest warrants were issued for the leader of the Muslim Brotherhood, Mohamed Badie, and nine other senior figures in the movement.

They are charged with inciting Monday's deadly violence in the capital, in which more than 50 Brotherhood supporters, a soldier and two policemen died.

The Brotherhood says the army fired on peaceful demonstrators and it is accusing the interim authorities of a cover up. The military, however, say soldiers acted in self-defence after being attacked by armed assailants.

Many Brotherhood members are already in detention and warrants are said to have been issued for hundreds more.

Correspondents say the new warrants could scupper any attempts to persuade the Brotherhood - banned for decades under former President Hosni Mubarak - to participate in the transitional political process.

The timetable for new elections was announced in a constitutional declaration by interim President Adly Mansour on Monday evening. It laid out plans to set up a panel to amend the suspended constitution within 15 days.

The changes would then be put to a referendum - to be organised within four months - which would pave the way for parliamentary elections, possibly in early 2014.

Once the new parliament convenes, elections would be called to appoint a new president.

Adly Mansour's transition timeline

Panel formed within 15 days to review constitution

Constitutional amendments to be finalised and put to referendum in four months

The Brotherhood has rejected the transition plan and its political wing, the Freedom and Justice Party (FJP), has said it will turn down a post in the cabinet being formed by the interim Prime Minister Hazem al-Beblawi.

Mr Beblawi said on Thursday that he had not ruled out offering posts to the FJP.

"I don't look at political association," he told the AFP news agency.

"I'm taking two criteria for the next government. Efficiency and credibility."

The main liberal opposition coalition, the National Salvation Front (NSF), and the grassroots Tamarod protest movement, which co-ordinated the anti-Morsi protests, said they were not consulted on the decree and have concerns about it.